Pennystock Chat

I am back from my trip and have settled down a little.  This blog will go through some changes, especially the addition of a Wiki that will keep track of all the microcap trading strategies out there.

Popularity: 21% [?]

I will not be trading for a period of three weeks.  Going to Indonesia for a mix of business and pleasure.  The 12 hour time difference and unreliable internet access is the cause of this.  Hopefully this doesn’t hurt my ranking on Covestor.  Will be back better than ever!

Popularity: 21% [?]

When I managed the RIA I used to work at, it was an SEC mandate that we had backup internet access.  We supplemented our T1 line with a cable modem in case the internet went down.  While this rule is mandatory for registered investment advisers, I find it very applicable to a personal trader.  Nothing is worse than having an open positon and not being able to monitor it for a possible close.

I have a 10 meg cable connection at home.  While it’s up 99% of the time, it will eventually go down for various reasons.  This happened last week while I had a position open.  Luckily that position continued to act the way I wanted but I was not going to risk something like that again.

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Popularity: 28% [?]

To those familiar with the world of penny stocks, Tim Sykes needs no introduction.  With his PennyStocking DVD set, he introduces the audience to the world of penny stocks.  Here’s what you get for your $297: 4 DVDs, Tim’s An American Hedgefund Book, and a pretty thick binder of printed notes and slides from the DVDs.

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Popularity: 100% [?]

Lately, a friend sent me a text message when he was away from his desk asking me to text him the latest quote on AEO.  Of course, I sent him back a text with that information but also let him know that he could look up that quote anytime he wanted to by texting Google.

I told him to text AEO to 466453 (google) and he would get a text back with the quote.  This is a free service from Google.  Try it yourself by sending the ticker symbol to 466453!

Popularity: unranked [?]

Trading paper money is good for practice but nothing like trading your hard earned dollars. When your own bankroll is on the line, the emotions that surface cause you to trade in different ways then you would in a simulator. So what if you finished on top of your competition in a stock simulation game? This is where Covestor comes in handy. Covestor is actually a pretty clever little website. It taps into your brokerage account automatically and tracks your performance so that you may compare yourself to other Covestor members. Members are ranked on their performance which can be seen here.

Penny stock niche advocate, Timothy Sykes, is blowing away the competition with his trading abilities. It’s important to note here that the competition creeping up on him are his actual Pennystocking (review of his DVD course coming soon) students further proving that smart, educated trading of penny stocks can be done by ordinary people dedicated enough to spend their due diligence in learning how the niche works.

I highly encourage you to sign up with Covestor. As an incentive, “Covestor will shortly enable individuals to invest money directly alongside your portfolio, rather than in underperforming Mutual Funds. The fees charged for this service will be shared with you.”

My Covestor profile can be seen here. I am not ranked yet as Covestor needs more time to calculate my risk numbers. I heard it will take a couple months for this to happen. Those of you already ranked, maybe you can chime in on how long it took for you to show up on the rankings.

If you are trading penny stocks, please take the time to comment with a link to your Covestor profile below.

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There is a lot of BS in the pennystocking world.  More than likely, you’ve heard that the common conception of pennystocks is to stay away.  For the general public, this warning is correct.  However, for the informed investor/trader (which is you, that’s why you’re here!) pennystocks can be a very profitable.  We are here to provide our commentary, educate, and point out the scammers so that you can profit from the world of pennystocking.

Popularity: unranked [?]